Automotive Lubricants Market by Product (Engine Oils, Transmission & Hydraulic Fluids), Vehicle (Passenger Cars, Two/Three-Wheeler), Type (Mineral Oil, Synthetic, Semi-synthetic Lubricant), Sales Channel (OEM, Aftermarket)- Global Forecast to 2025
The global automotive lubricants market is expected to grow at a CAGR of 7.3% from 2019 to reach $53.43 billion by 2025. Moreover, on volumetric basis, the market is expected to grow at a CAGR of 2.4% from 2019 to reach 26,632 thousand tons by 2025.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, and opportunities. The factors such as growing automotive industry, increasing production of vehicles, and rise in disposable income are driving the growth of the global automotive lubricants market. However, growing popularity of electric vehicles and volatile pricing of raw materials hinders the growth of this market.
The overall automotive lubricants market is segmented by product (engine oil, transmission & hydraulic fluid, gear oil, grease, process oil), vehicle (passenger cars, light weight commercial vehicle, two/three-wheeler), type (mineral, synthetic, semi-synthetic), sales channel (aftermarket, OEMs), and geography.
On the basis of product type, engine oil segment is estimated to account for the largest share of the overall automotive lubricants market in 2019 and is expected to continue its dominance during the forecast period. The large share of this segment is mainly attributed to the growing production of vehicles across the globe, rising consumer awareness regarding the use of oil, and huge demand from automobile aftermarket segment.
On the basis of vehicle type, automotive lubricants market for passenger cars is estimated to command the largest share of the overall automotive lubricants market in 2019. This is mainly attributed to growing production and ownership of passenger and general utility vehicles, high awareness regarding maintenance and use of lubricants among passenger cars owners, stringent government regulations related to emission, and improving road infrastructure and income levels.
An in-depth analysis of the geographical scenario of the automotive lubricants market provides detailed qualitative and quantitative insights about the six major geographies (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) along with the coverage of major countries in each region. Asia-Pacific region is estimated to hold the largest share of the global automotive lubricants market in 2019, followed by North America, Europe, Latin America, Africa, and Middle East. The large share of this region is mainly attributed to growing economy; increasing urbanization and disposable income; rapid growth in the automotive industry; presence of key lubricant manufacturers; and growing transportation industry.
Key players operating in the global automotive lubricants market are Shell International B.V., Exxon Mobil Corporation, FUCHS PETROLUB SE, Motul, Phillips 66 Company, Repsol S.A., SK lubricants Co., Ltd., China National Petroleum Corporation, Klüber Lubrication München SE & Co. KG, Amsoil Inc., Petróleo Brasileiro S.A., Valvoline, Inc., JXTG Nippon Oil & Energy Corporation, Chevron Corporation, and BP P.L.C. (CASTROL).
Scope of the Report:
Market by Product
Transmission & Hydraulic Fluids
Market by Vehicle Type
Light-Weight Commercial Vehicle
Heavy-Weight Commercial Vehicle
Market by Type
Mineral Oil Lubricants
Synthetic Oil Lubricants
Market by Sales Channel
Original Equipment Manufacturers (OEMs)
Market by Geography
Rest of Europe
Rest of Asia-Pacific (RoAPAC)
Rest of the World (RoW)
Rest of Africa
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